When a Firm's Long-Run Average Total Costs Do Not Vary

question 96

Multiple Choice

When a firm's long-run average total costs do not vary as output increases, the firm exhibits

• A)economies of scale.
• B)constant returns to scale.
• C)diseconomies of scale.
• D)an efficient use of resources.

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Definitions:

Isotonic Solution

A solution that has the same osmotic pressure as the fluid in a cell, leading to no net movement of water into or out of the cell.

Red Blood Cells

The cells in the blood primarily responsible for carrying oxygen from the lungs to the rest of the body, using the protein hemoglobin.

Hypertonic

Describes a fluid that has a high overall solute concentration relative to another fluid.

Turgor

Pressure that a fluid exerts against a structure that contains it.